Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
If a person owns several rental properties personally, should he/she incorporate or form an LLC to protect their personal assets and should a real estate attorney do this for them?
Maybe, and yes.There are no one-size-fits-all answers to most legal questions, and the decision whether to form an entity to hold rental real estate definitely falls into that category. Many people appreciate the limited personal liability that a corporation or LLC provides, but it comes at a cost, and you should consider all factors before making that decision.
But I can strongly recommend working with an attorney, whether you choose to go that route or not. An attorney who is experienced with forming entities like the one you have in mind will be able to advise you on the pros and cons, and will also make sure that if you do form an entity, it will be done correctly.
